Sometimes, a third party, like a visitor, experiences an accident within the premises of the business. In that case, commercial general liability will be able to pay for the damages. Otherwise, you're putting the entire business and its reputation at risk.
Protection From Personal and Advertising Injury
In any case that your advertisement ruins the dignity of one person, and if that person files a libel case against you, then you should be able to protect yourself with commercial general liability insurance. The same thing goes when a rival company sues you for allegedly stealing its intellectual property.
Commercial general liability insurance will definitely cover all your legal fees in case of a lawsuit. That would be a big help to you since lawyer’s fees can get really high. Defense costs can also be equally crippling, but commercial general liability insurance can handle it.
The Cost of Not Having Commercial General Liability Insurance
The problem of not having commercial general liability insurance is that it leaves your business empty-handed in the face of potential losses. If your company is just a small startup, then it should have general liability insurance protection. This is because a single lawsuit can wipe out everything you have at any time.
Not an All-Inclusive Insurance Solution
Another challenge that small companies and new business people face is that they think general liability insurance is an all-inclusive offer. However, commercial general liability insurance doesn't cover automobile accidents, injuries on the job, theft, pollution damage, and negligence.
Commercial General Liability insurance will not protect you from all errors and neglect as well as other troubles. However, general liability insurance can shield you from the worst of lawsuits. As long as you know it much, it can serve you well. Get commercial liability insurance for your small or large business for greater peace of mind.
At Independent Executive Insurance Brokers, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (805) 624-4815 or Click Here to request a free quote.